Advice for Automotive Industry Retailers

Advice for Automotive Industry Retailers


hi I’m Nathan Shipley I’m the industry expert at the NPD group for the automotive industry I oftentimes get asked if I were a shop owner on the retail side or the service side what would I do to ensure my business continues to exceed the biggest area that I would focus on is my online presence both on social media as well as things like my own website how is my presence on social media what am i doing on all the major social media sites to be sure I’m interacting with my customers even when their cars aren’t in my shop or those customers aren’t in my retail store there are ways to talk to those consumers on going through social media that’s critical to ensure they keep coming back to your business the other area is when you’re with your website ensuring that product data is correct its clean making sure that the reviews of your business as well as the businesses of the products that you’re carrying on your shelves are both high in ratings as well as high in quantity the quantity of your reviews and the quality of your reviews are equally as important in terms of what consumers are looking for online when considering shopping at your business another area focus if I were a retail shop owner in the automotive aftermarket is pricing and promotions ensuring that I get my pricing correct there are so many areas in the automotive aftermarket that have an influence on pricing one most specifically that we all have control over is promotions the timing of promotions the frequency of promotions and the depth of promotions do you know for sure that the promotions are putting out there are truly incentivizing consumers to come into your shops or those consumers already coming into your shop any ways to buy the product how deep a promotions are you offering out there in the marketplace do you need to go as deep as you currently are just ensuring that you’re not leaving money on the table when promoting these products in the automotive aftermarket we know that weather patterns have a significant impact on when consumers are coming into your shops so if you’re promoting products at the time of bad weather again what those consumers have bought those products anyways so insuring is you’re dialing in your pricing and time your promotions is critical the Millennial segment of consumers can really be split into two groups younger and older we know that younger Malena mewls that maybe you’re just finishing up college starting off their careers for the first time are more likely to drive much older cars we know that older millennials are coming into their peak driving years they’re well into their careers maybe they’re buying homes out in the suburbs and they’re starting to have children and they’re driving the most that they ever have these consumers as a group are very different in terms of how they research products for their cars and how they go about repairing their cars and ensuring your business is focused on these consumers is critical to your long-term success if you think about social media and your own presence on social media you have to also think about how important these consumers are for you on social media whether it’s through a review through a quick snap of a picture of your building whatever it might be their social media presence is critical again to your success there are so many moving pieces to our industry and so many things that will change over the next 10 years some of which we can control and some of which we can’t as the industry expert for NPD in the automotive industry I’m going to continue to monitor and track these trends and consult with you to ensure that we are positioned for success as an industry


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